Alvarado, on the other hand, survived a slugfest with Rios, coming out victorious this time around.

But Koncz said that before they finalize the terms, they will have to find a venue where they could stage Pacquiao’s next fight.

“We haven't really sat down to finalize an opponent, because we're still working on the venue," Koncz said.

He made it clear that Pacquiao won’t be fighting anytime soon in the US because of the huge taxes.

"It's going to be overseas,” said Koncz.

“I think we're going to lose some pay-per-view buys, but I don't agree with Bob [Arum] that we're going to lose half of it. I think maybe 20% [will be lost], but I think if we do the fight on the time slot for HBO Pay-Per-View - people will still watch the fight."